Franklin MF moves SAT seeking stay on Sebi's Rs 5 crore penalty order

Tribunal to issue an order next week on whether plea can be admitted

Franklin Templeton Mutual Fund (FT MF) on Friday moved the Securities Appellate Tribunal (SAT) against a Sebi’s order dated June 7, which imposed a penalty of Rs 5 crore on the fund house and directed it to disgorge more than Rs 500 crore.
 

The fund house has sought a stay on the order until the tribunal hears all the arguments and gives its judgement. Sources said SAT will pass an order next week on whether the FT MF’s plea can be admitted.
 

In a 100-page order, Sebi has rapped the fund house for “several irregularities” in the running of its